Latest News and Articles

Part of Estate Planning is making it as easy as possible for your loved ones to help you. You should consult with your Estate Planning Attorney to be sure that your Estate Plan is appropriate and puts the appropriate loved ones in a position to help you. The first way to help your estate helpers […]

Surgery reminds us to review our health care designations and documents As we get older it is likely that each of us will have a health situation of some kind – surgery or temporary hospitalization. Whether major or minor, these events serve as physical reminders to review our estate plans and our health care designations […]

The New Tax Bill Congress has passed, and the President has signed, a major new Tax Bill revising many Tax Laws. It modifies much beginning January 1, 2018. There are a number of changes in the Tax Laws that you will want to pay attention to. Tax Brackets Have Changed. The rate that you are […]

Beware of Charities: Some helpful tips

Before you include that charity in your estate planning…consider this example and some tips:

Our client Frank was a “Quiet Hero”. He came from very modest beginnings in Texas to earn academic scholarships to help him work through Texas Tech University to earn a PhD in engineering. He served an important communications role with the U.S. Army and followed that with several decades of service with the almost unknown “National Security Agency”. He was one of the top protectors of America during the “Cold War” with the U.S.S.R.

When Frank and his wife both passed on, they left generous donations to some family members and a number of charities. One of the charities was local. Surprisingly, when it came time to move the money out, administer, and process the Trusts, that local charity disagreed with the terms of the Administration of Frank and his wife’s Trusts.

Having known Frank for almost fifteen (15) years, had he known this was going to happen with this charity, he likely would not have made a bequest to them.

If you are thinking about donations to a charity, make sure that you know the nature of that charity and possibly talk with them ahead of time to make sure that the resources that you spent your life in acquiring, saving and investing will be specifically administered in the way that you desire.

Some things to consider about charities:

Are they a legitimate charity? There is a lot of fraud out there. The IRS has a “EO Select Check” listing IRS approved charities. It will also tell you if the entity is tax deductible.

Giving doesn’t have to be cash. Many charities are happy to accept Stocks, land, and or automobiles.

Keep great records. You will need the records for tax deductions purposes.

Not be difficult. You want your charity to make it easy to donate to, not difficult to donate to.

At the Law Firm of Steven Andrew Jackson, Attorney and Counsellor at Law, we have helped hundreds of families protect themselves and their loved ones, avoid Estate Taxes and Probate Costs, and keep their Estate Plans current with the law through The Customized Protective Estate Planning Solution™.